Commercial Land for Sale in Portland, OR

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Commercial Land
  • Location: Portland, OR 97216

Description

Located just off E Burnside Street in Portland’s Montavilla neighborhood, this offering consists of two adjacent parcels totaling approximately 0.22 acres with CM2 (Commercial Mixed-Use 2) zoning. Positioned in one of East Portland’s most established and walkable neighborhoods, the property presents a compelling opportunity to develop high-density multifamily housing in a strong rental submarket with convenient access to neighborhood amenities, transit, and major employment corridors. The offering includes one vacant parcel and one improved parcel containing a 2,624 square foot single-family home built in 1947. The home is currently leased to a month-to-month tenant paying $1,962 per month, providing interim income while a developer advances development plans. A full development package has been completed for the property, including architectural plans, survey work, and mechanical engineering, significantly reducing the upfront time and cost associated with early-stage development. The proposed project consists of a 30-unit apartment building comprised of efficiently designed one- and two-bedroom units tailored to the strong demand for attainable housing in Portland’s close-in eastside neighborhoods. Investment Highlights: • 30-Unit Planned Development – Architectural plans prepared for a multifamily apartment project consisting of one- and two-bedroom units • CM2 Zoning – Commercial Mixed-Use zoning allows for mid-scale multifamily development in a desirable infill location • Completed Pre-Development Work – Architectural plans, survey, and mechanical engineering already completed • Potential SDC Fee Savings – Eligible housing projects may benefit from Portland's temporary SDC exemption program • Assumable Financing – Approximately $520,000 note assumable for three years at 5% interest-only

Market Context

This land in Portland, OR is listed for sale. It has been on the market for 53 days. Compare it against other land listings for sale in Portland, OR — <a href="/search/sale/land/oregon/portland">view the full market</a>.

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